The Vietnamese motorcycle market in the third quarter of 2020 recorded sales of over 677,000 units, a sharp increase of more than 30% over the same period last quarter. This is the first quarter in 2020 that motorcycle sales have positive growth.

Latest reports of the Vietnam Motorcycle Manufacturers Association (VAMM) recorded impressive growth compared to the same period in the second quarter of 2020. Sales of 5 VAMM members reached 677,739 in the third quarter of 2020. In the second quarter of 2020 this figure was just over 500,000 vehicles.

5 members of VAMM are Honda Vietnam (HVN), Piaggio Vietnam, Suzuki Vietnam, SYM Vietnam and Yamaha Motor Vietnam together announced the sales of the third quarter of 2020 (from July 2020 to the end of September 2020). However, despite growth from the previous quarter, compared to the same period in 2019, motorcycle sales still decreased by 18.49%.

The most consumed motorcycle brand in Vietnam is still Honda. The Japanese motorcycle joint venture has just announced its sales in the first half of fiscal 2021 with a deep decline.

According to HVN, from April to the end of September 2020, the cumulative sales of motorcycles reached nearly 959 thousand units, downed by 25% over the same period last year. CBU export volume reached 68,782 units; total export turnover reached 147.83 million USD including whole vehicle imports and spare parts, growth -22.8 year-on-year comparison.

According to HVN, this company now holds more than 80% of the domestic motorcycle market share. Thus, the remaining big names such as Piaggio Vietnam, Suzuki Vietnam, SYM Vietnam and Yamaha Motor Vietnam continue to lose market share to Honda. All 4 big companies mentioned above will likely continue to struggle to take over the remaining 20% market share.

Source: autopro.com.vn